FASB Ratifies EITF Consensus

At its November 20, 2019, meeting, the FASB ratified the Emerging Issues Task Force (EITF) consensus on Issue 19-A, “Financial Instruments — Clarifying the Interactions Between Topic 321, Topic 323, and Topic 815,” and directed its staff to draft a final Accounting Standards Update (ASU) for a vote by written ballot.

For more information, see Deloitte’s EITF Snapshot as well as the tentative Board decisions on the FASB’s Web site.